The EUR/SEK currency pair has been trading in the falling wedge since the middle of August. Also, the pair has reached the lower boundary of the long-term ascending channel.
Currently the rate is testing the lower channel line at 10.22. If given channel holds, a reversal north occurs in the nearest future and a breakout north from the wedge follows. Potential upside target is the Fibonacci 23.60% retracement at 10.45.
If given channel does not hold, the pair continues to trade within the wedge. A possible breakout north from given pattern might occur near the 10.15 mark.
Currently the rate is testing the lower channel line at 10.22. If given channel holds, a reversal north occurs in the nearest future and a breakout north from the wedge follows. Potential upside target is the Fibonacci 23.60% retracement at 10.45.
If given channel does not hold, the pair continues to trade within the wedge. A possible breakout north from given pattern might occur near the 10.15 mark.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.